Summit Creek Advisors LLC Raises Stock Holdings in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Summit Creek Advisors LLC increased its position in Grid Dynamics Holdings, Inc. (NASDAQ:GDYNGet Rating) by 0.6% during the 1st quarter, Holdings Channel.com reports. The firm owned 245,145 shares of the company’s stock after purchasing an additional 1,512 shares during the period. Summit Creek Advisors LLC’s holdings in Grid Dynamics were worth $3,452,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. IndexIQ Advisors LLC bought a new stake in Grid Dynamics in the first quarter worth $407,000. Mirador Capital Partners LP lifted its holdings in shares of Grid Dynamics by 6.1% during the first quarter. Mirador Capital Partners LP now owns 49,217 shares of the company’s stock valued at $693,000 after purchasing an additional 2,846 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Grid Dynamics by 5.7% during the first quarter. Victory Capital Management Inc. now owns 400,525 shares of the company’s stock valued at $5,635,000 after purchasing an additional 21,757 shares in the last quarter. Commonwealth Equity Services LLC lifted its holdings in shares of Grid Dynamics by 16.9% during the first quarter. Commonwealth Equity Services LLC now owns 31,605 shares of the company’s stock valued at $445,000 after purchasing an additional 4,574 shares in the last quarter. Finally, Hamilton Wealth LLC lifted its holdings in shares of Grid Dynamics by 205.8% during the first quarter. Hamilton Wealth LLC now owns 17,240 shares of the company’s stock valued at $243,000 after purchasing an additional 11,603 shares in the last quarter. 65.42% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Grid Dynamics news, CEO Leonard Livschitz sold 78,897 shares of the company’s stock in a transaction dated Monday, June 6th. The stock was sold at an average price of $18.77, for a total value of $1,480,896.69. Following the completion of the sale, the chief executive officer now owns 3,232,260 shares in the company, valued at $60,669,520.20. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Director Patrick Nicolet acquired 10,000 shares of the stock in a transaction dated Thursday, May 12th. The stock was acquired at an average cost of $16.42 per share, with a total value of $164,200.00. Following the purchase, the director now directly owns 14,290 shares of the company’s stock, valued at $234,641.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Leonard Livschitz sold 78,897 shares of the firm’s stock in a transaction that occurred on Monday, June 6th. The shares were sold at an average price of $18.77, for a total value of $1,480,896.69. Following the completion of the sale, the chief executive officer now directly owns 3,232,260 shares of the company’s stock, valued at $60,669,520.20. The disclosure for this sale can be found here. Company insiders own 11.80% of the company’s stock.

Grid Dynamics Trading Down 1.7 %

Shares of GDYN opened at $20.13 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 6.32 and a current ratio of 6.32. The business has a 50-day simple moving average of $17.83 and a two-hundred day simple moving average of $17.05. Grid Dynamics Holdings, Inc. has a 52 week low of $9.09 and a 52 week high of $42.81.

Grid Dynamics (NASDAQ:GDYNGet Rating) last issued its quarterly earnings results on Thursday, May 5th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.05. The business had revenue of $71.41 million during the quarter, compared to analysts’ expectations of $65.07 million. Grid Dynamics had a positive return on equity of 12.34% and a negative net margin of 7.32%. The business’s quarterly revenue was up 82.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.05 earnings per share. As a group, analysts predict that Grid Dynamics Holdings, Inc. will post 0.29 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Northland Securities upped their price target on Grid Dynamics from $22.50 to $25.00 in a report on Monday, May 9th. Citigroup increased their target price on Grid Dynamics from $20.00 to $23.00 in a report on Friday, May 6th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $23.17.

Grid Dynamics Company Profile

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Grid Dynamics Holdings, Inc, together with its subsidiaries, provides enterprise-level digital transformation services in the areas of search, analytics, and release automation for Fortune 1000 corporations in North America, Europe, and internationally. It works in collaboration with its clients on digital transformation initiatives that cover strategy consulting, early prototypes, and enterprise-scale delivery of new digital platforms.

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Institutional Ownership by Quarter for Grid Dynamics (NASDAQ:GDYN)

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